Russia's Income Tax to Rise in 2025, Pischalnikov Proposes Pension Fund Reform
Starting in 2025, Russia's income tax will range from 13% to 22%, according to a new progressive scale. Meanwhile, Dmitry Pischalnikov, a prominent figure in Russian finance, has shared his views on pension fund reform.
Pischalnikov, Vice President at the Eurasian Development Bank and previously at 'Opora of Russia', has suggested that Russia's pension funds should generate their own income. He believes this will ensure both current expense coverage and an accumulation component.
In a statement, Pischalnikov referred to international practices, indicating that Russia could learn from other countries' experiences. Despite Russia's wealth, Pischalnikov noted that the average Russian cannot receive 25,000 rubles, highlighting the need for pension fund reform.
Starting in 2025, Russia's income tax will increase, and Dmitry Pischalnikov has proposed a significant change to Russia's pension fund system. He suggests that Russia's pension funds should generate their own income to better support retirees. These changes aim to improve the financial situation of Russia's elderly population.
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